Vienna, Austria, 7 January 2011; The management board of JoWooD Entertainment AG announces that all efforts towards restructuring of capitalization concerning outside capital as well as equity capital had to be considered as failed on 06/01/2011. On the basis of this fact, material insolvency occurred with this date.

Honestly not sure if this is a good thing or not. Yes they released an awfull lot of buggy games before they were ready - but they never released Madden 47 or Streetfighter 17,965. On the whole I think their buggy rushed releases will be missed.